Integrating cryptographic tokens representing real world items into media streams
Systems and methods for facilitating electronic transactions for real world items linked to digital tokens. The systems and methods leverage an item management system configured to provide an interface, generate virtual representations of real-world items, generate digital tokens, and generate links between the tokens and the virtual representations. The systems and methods further leverage an integration system configured to handle a request from a streaming platform, server an electronic advertisement corresponding to a real-world item, receive a transaction notification, and initiate an assignment of a digital token corresponding to the real-world item to an account.
1. A system for facilitating electronic transactions for real world items linked to digital tokens, comprising:
an item management computing system that is configured to:
provide an interface that receives a set of real-world item attributes of an item; and
generate a virtual representation of the real-world item based on the set of real-world item attributes, the virtual representation being a data structure that includes the set of real-world item attributes;
a token generation computing system configured to:
generate a non-fungible token (“NFT”) that has a set of digital attributes that correspond to the set of real-world item attributes, wherein the NFT is cryptographically secure, and wherein the set of digital attributes of the NFT includes a data structure that represents one or more media contents relating to the real-world item; and
generate a cryptographically secure, one-to-at-least-one link between the NFT generated by the cryptographic token generation system and the virtual representation of the real-world item, such that the NFT provides a digital representation of the unit of the real-world item;
a ledger update computing system configured to write the NFT to a blockchain in accordance with a protocol, thereby facilitating transactions for the real-world item using the NFT; and
an integration computing system configured to:
handle a request from a streaming platform that requests an electronic advertisement corresponding to a real-world item to be included in a specific live stream;
serve the electronic advertisement corresponding to the real-world item to the streaming platform, wherein the advertisement includes a visual indicum that is indicative of the NFT;
receive a transaction notification indicating that the user has transacted for the real-world item via the live stream via a user device receiving the stream; and
initiate an assignment of the NFT to an account of the user on the blockchain, such that ownership data of the NFT is updated to reflect that the user is an owner of the NFT;
wherein the NFT is redeemable by the owner of the NFT to initiate the owner of the NFT taking possession of the real-world item, and
wherein once the NFT is assigned to the account of the user, the NFT unlocks an in-game benefit to the user in a video game instance of a video game.
2. The system of claim 1 , wherein the NFT corresponds to a unique unit of the real-world item, such that the NFT is redeemable for the unique unit of the real-world item.
3. The system of claim 1 , wherein the real-world item is a consumer product and the NFT is cryptographically linked with the virtual representation of the consumer product and is redeemable for a unit of the consumer product.
4. The system of claim 1 , wherein the real-world item is a gift card and the NFT is cryptographically linked with the virtual representation of the gift card and is redeemable for the gift card.
5. The system of claim 1 , wherein the real-world item is a food item and the NFT is cryptographically linked with the virtual representation of the food item, and wherein redeeming the token NFT initiates delivery of the food item to the user.
6. The system of claim 1 , wherein the NFT is transferrable to another user.
7. The method of claim 1 , wherein the real-world item has a defined type and a defined set of characteristics but is not yet in existence, such that the NFT is redeemable for the real-world after the real-world item is in existence.
8. The system of claim 5 , further comprising: a token transfer computing system that receives a request to transfer the NFT from the account of the user to a second account of the other user and, in response, facilitates the transfer of the NFT from the account of the user to the second account of the user via the ledger update computing system.
9. The system of claim 1 , wherein once the NFT is transferred to a second account of another user, the in-game benefits are unlocked with respect to video game instances of the other user.
10. The system of claim 1 , wherein once the NFT is transferred to a second account of another user, the in-game benefits are no longer unlocked with respect to video game instances of the user.
11. The system of claim 1 , wherein the real-world item has a defined type and a defined set of characteristics but is not yet in existence, such that the NFT is redeemable for the real-world after the real-world item is in existence.
12. The system of claim 1 , wherein the set of real-world-item attributes includes a set of physical attributes of the real-world item, wherein at least some of the digital attributes are based on the physical attributes of the real-world item.
13. The system of claim 1 , wherein the set of real-world-item attributes include a set of origination attributes of the real-world item, wherein at least some of the digital attributes are based on the origination attributes of the real-world item.
14. The system of claim 13 , wherein the set of origination attributes includes one or more of limited-edition attributes, celebrity signature attributes, certification of originality attributes, location of origin attributes, or certification of ethical production attributes.
15. The system of claim 1 , wherein the set of digital attributes of the NFT includes a data structure that represents the physical attributes of the real-world item.
16. The system of claim 1 , wherein the set of digital attributes of the NFT includes a data structure that supports a visual representation of the real-world item.
17. The system of claim 1 , wherein the set of digital attributes of the NFT includes an image of the real-world item.
18. The system of claim 1 , wherein the one or more media contents relating to the real-world item comprise an animation of the real-world item.
19. The system of claim 1 , wherein the ledger update computing system writes the NFT to a side chain of a set of side chains of the blockchain.
20. The system of claim 19 , wherein each side chain of the set of side chains is a respective shard of the blockchain that extends from a main chain of the blockchain.
21. The system of claim 20 , wherein each side chain of the set of side chains corresponds to a different categorization of real-world items.
22. The system of claim 20 , wherein the side chain of the plurality of side chains further stores the virtual representation of the real-world item.
23. The system of claim 1 , wherein the blockchain is a private blockchain.
24. The system of claim 1 , wherein the blockchain is a public blockchain.